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When does a trading account show a gross loss?
When there is more direct expenses then revenue earned by company then trading account will show gross loss.
Is trading account nominal or real?
A trading account is considered a nominal account. It is used to record the revenues and expenses related to trading activities, such as sales and cost of goods sold, which ultimately affect the profit or loss of a business. Unlike real accounts, which pertain to assets, liabilities, and equity, nominal accounts are temporary and are closed at the end of an accounting period.
What is direct expenses and indirect expenses?
what is direct and indirect expense
Is direct labor and direct material having any link with direct expenses?
Both direct labor and direct material are part of direct expenses incurred by company to manufactured goods or providing services and both have direct relations with direct expenses it means as much as direct material and direct labor as much the direct expenses which is total of both of them.
List of direct expenses?
Some direct expenses include direct labor and materials. Companies try to reduce the cost of direct expenses because they impact the cost of the product.
When does a trading account show a gross loss?
When there is more direct expenses then revenue earned by company then trading account will show gross loss.
Who are the basic records used before preparing trading profit and loss accounts and balance sheet?
Basic records needed for preparing trading profit loss accounts and balancesheep is a trial balance.. A trial balance is the closing balances of each and every account entered in our ledger. Trading account shows us Gross profit while profit and loss account shows us net profit and in the end balance sheet shows us the Assets and Liabilities at the end of the financial year.. all direct expenses shown on trading accounts and direct income like sales shown in trading account while indirect exp and indirect income shown in p & L ac
Is work expenses direct or not?
yes , work expenses are direct
What is net trading?
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
Is trading account nominal or real?
A trading account is considered a nominal account. It is used to record the revenues and expenses related to trading activities, such as sales and cost of goods sold, which ultimately affect the profit or loss of a business. Unlike real accounts, which pertain to assets, liabilities, and equity, nominal accounts are temporary and are closed at the end of an accounting period.
What is direct expenses and indirect expenses?
what is direct and indirect expense
What is net trading assets?
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
Is direct labor and direct material having any link with direct expenses?
Both direct labor and direct material are part of direct expenses incurred by company to manufactured goods or providing services and both have direct relations with direct expenses it means as much as direct material and direct labor as much the direct expenses which is total of both of them.
List of direct expenses?
Some direct expenses include direct labor and materials. Companies try to reduce the cost of direct expenses because they impact the cost of the product.
Is accounts payable same as expenses?
No
Preparing departmental trading and profit and loss account?
When preparing departmental trading and a profit and loss account, expenses must be taken into account first. These include departmental expenses, and common expenses, including administrative expenses.
What companies offer personal stock trade accounts?
There are many online brokerages that offer personal stock trade accounts. Some companies offer online trading such as, Scottrade, eTrade and ING Direct. Fidelity Investments has walk in offices located in most major cities and online trading.
